We receive countless questions from our customers, but the one that comes up most often is “what kind of insurance do I need for my piano?” The answer for most people is that it will depend on their piano, and how much coverage they need to get for it. Some people will choose to use their homeowners’ insurance plan to protect their piano, but there is a risk in doing so. Your policy will only cover the value of your piano up to a certain amount, and it will only cover certain instances of accidental damage. You may also need to get a rider on your homeowners’ insurance policy if your piano is very valuable.
In most cases, it is beneficial to get a customized musical instrument insurance plan to protect your piano. A piano is a significant investment for most people, and it has a long lifespan, which means it will be with you for many years to come. Insuring your piano will help protect you against damage, loss, and theft. Musical instrument insurance also protects against more instances of damage, like flood and fire, than a typical homeowners’ insurance plan. It can also insure your piano for a higher amount, especially for more valuable instruments.
You can help protect your instrument by keeping good documentation of your piano. Record your piano’s brand, serial number, model, and size, if possible. We also recommend taking a few photos of your piano on a regular basis. This will help you document its condition when you first received the piano, as well as any changes that may occur because of damage, repairs, or normal wear and tear. The amount you receive from your insurance company to help replace or repair your piano is often determined by this information. Any time a piano changes ownership it’s good to have an estimate of its value. Your receipt can serve as this estimate, but if you inherited your piano it is worthwhile to have it appraised.